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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Rob S. who wrote (130213)	1/1/2001 11:20:25 PM
From: tejek	Read Replies (3) \| Respond to of 1572098

"The year the bubble burst was the name being used by the talking heads on Friday. It fit well with the Nasdaq dropping -39% for the year and wiping out all the gains from the speculative bubble started in 1999. The Nasdaq went into the record books with the biggest loss for a major market index since 1937. The Nasdaq drop took -$3.3 trillion dollars out of investor accounts since Jan-1st. This could have paid off 58% of the national debt and this negative wealth effect is being felt in all areas of the economy." Your newsletter says it well. Its the bursting of this bubble that is causing the fears of a recession and not a soft landing. I know this may sound surprising given the amount of wealth that's been lost but I think the economy is handling it. ted